NOVEMBER 29, 1993
Schertz Development Foundation
Board of Directors Meeting
Minutes
November 29, 1993
Schertz Municipal Complex
Item l. The meeting of the Schertz Development Foundation
Board of Directors was called to order at 7:00 p.m., November
29, 1993 by Vice Chairman Tom Weaver. Members present Mr.
Tom Weaver, Mr. Lou Borgfeld, Mr. Kerry Sweatt, Mr. Charles
MCDonald, Mr. Mark Marquez, Ms. Denise Granger Rec. Sec.
Item 2. Mr. Mark Marquez asked to send a letter of
appreciation to Mr. Jack Garber for his service as his term
of office has expired. Jackie Jones of Pacific Southwest Bank
was nominated to replace Mr. Garber. The Board voted
unanimous approval. Ms. Jones' name will be forwarded to
City Council for approval.
Item 3. The board discussed a proposal from Mr. Jim Winn on
the purchase of a lot. Mr. Winn proposed to buy a lot, with
a $3500.00 down payment, and the Foundation to carry the note.
After discussion the board consensus was that the Foundation
was not interested in being a banker.
Mr. Borgfeld then presented a proposal by Guadalupe Valley
Development Corporation ((GVDC)) to buy lot #11 and build a
speculative building. The bid price was $4,000.00. During
discussion the following conditions were developed:
a.
accepted.
The bid price of $4,000.00 for lot #11 was
b. The Foundation would pay $3,125.00 to GVDC for
release of the lot.
c.
brokers.
The Foundation would pay $400.00 to the listing
costs.
d. Any remaining proceeds would be applied to closing
e. The Foundation would not pay any further costs in
excess of $4000.00 for the transaction.
f. A building of approximately 4000 square feet would
be built on the property. Construction to begin no later than
90 days from closing. Building completion would be within 180
days of construction start, with a weather delay allowance.
g. That the proposal from GVDC be made a matter of
record in the minutes.
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A motion was made and seconded to accept the GVDC offer under
the conditions stipulated above. The Board voted unanimously
in favor, with Mr. Borgfeld abstaining.
A second motion was made and seconded providing authority for
the President and the Executive Director to sign all necessary
and related documents to complete this transaction.
(This resolution will be codified by our attorney for purposes
of the title company.)
Item 4. Payment of Taxes/Audit Expense.
Director requested authority to pay current
partial payment of the current audit as
available. A motion was made and seconded
request.
The Executive
taxes and the
funds become
approving the
Item 5. Mark Marquez advised that Entex Gas had requested an
easement to run a gas main from the end of Commercial Place to
Mr. Vallance's property. While the Board had no objections,
we could not get into contact with the other land owners.
Entex has obtained an easement from the City of Schertz Public
Works Department along their water easement adjacent to
Schertz Business Park. Mr. Marquez also requested
consideration of a grant to Mr. Vallance to offset his costs
of approximately $3400.00 Mr. Vallance for the improved gas
access along the west side of Commercial Place. Mr. Vallance
did obtain an agreement with Entex that provides for a $250.00
reimbursement to Mr. Vallance for each connection. It was
the consensus of the Board that this request be denied. Two
reasons were cited. First, the Foundation currently does not
have the resources and second, the developers agreement should
more than reimburse Mr. Vallance for his expenses.
(Correction on 11 Jan, 94: Mr Borgfeld abstained from this
discussion.)
Item 6. Mr. Marquez described an issue that has arisen over
the prices we are asking for the Schertz Business Park
properties. We have an established price (.50 per square
foot) to be used by our listing broker, yet when a prospect
comes along we seem to be willing to significantly alter that
price. A more consistent policy is needed, not only for our
brokers, but for our own marketing uses when we are working
with a prospect.
A motion was made that lots in SChertz Business Park will be
sold for .23 per square foot if construction of a building
begins within 90 days, such building to cover at least 20% of
the lot, and meet the standards of the existing covenants.
Completion of the building must be within 180 days from start
of construction, weather permitting. Current asking price will
remain .50 per square foot.
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Item 7. Several Board members have expressed concern over the
lack of activity generated by our listing brokers. Members
have begun to question whether we need to have brokers to
market the Schertz Business Park property.
By consensus, the Executive Director was directed to speak to
our listing brokers with a view to terminating the current
agreement. No other brokers were to be considered to replace
them.
Item 8. Discussion was held on a proposal by the City of
Schertz to purchase lots 2, 3, and 4, in Schertz Business
Park. Mr. Sweatt left the meeting during this discussion.
The City's proposal was to buy the three lots a .35 per square
foot, at a cost of $28,470.00, with a $1,500.00 credit for
prior year maintenance (mowing) of the entire park, and a 4
year agreement to continue maintenance at $1,500.00 per year
for a total credit of $7,500.00. Cash price would be
$20,970.00. There also would be no requirement for building
construction. Closing costs would be equally shared. The
Foundation would pay 1993 taxes when due.
A motion was made and seconded to accept this offer. The
Board voted unanimously to accept the offer, with Mr. Sweatt
absent from this vote. Mr. Sweatt was advised of Foundation
acceptance of the City's offer upon his return to the meeting.
Mr. Sweatt will take the proposal to City Council on the 7
December, 1993 meeting for City Council approval.
A motion
Executive
the sale.
was made and seconded authorizing the President and
Director to sign all necessary documents to complete
The Board voted unanimously to approve the motion.
Item 9.
None
Item 10. At the last meeting the President directed the
Executive Director to obtain the cost of the property donated
by the Foundation to the City. The property was a
self-propelled roller and a self-propelled "sheepsfoot". The
value was established at $447.30.
Item 11a. During planning of the 4th Annual Business
Appreciation Dinner, organizers were advised that the
Foundation would provide a letter to the businesses that
donated goods and services (primarily the food vendors) citing
their donation as a charitable contribution for Federal tax
purposes. Four businesses took advantage of the offer, and a
sample letter was reviewed by the members.
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Item 11b.
Recording
responsible
duties for
Foundation
of Schertz.
As of this meeting the Foundation will have a
Secretary, Ms. Denise Granger, who will be
for the minutes and other necessary administrative
the Foundation. Ms. Granger will be paid by the
through a reimbursement arrangement with the City
Item 12. None
Item 13. The next meeting date is scheduled for 10 January,
1994 at 7:00 p.m. in the Municipal Complex Conference Room.
Item 14. . The meeting was adjourned
p.m.
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Denise Granger
Recording Secretary
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